StockNews.com Downgrades CEVA (NASDAQ:CEVA) to Hold

CEVA (NASDAQ:CEVA - Get Free Report) was downgraded by StockNews.com from a "buy" rating to a "hold" rating in a research report issued on Tuesday.

CEVA has been the topic of several other research reports. Northland Securities boosted their price objective on shares of CEVA from $31.00 to $35.00 and gave the stock an "outperform" rating in a research note on Monday, December 23rd. Barclays lifted their target price on CEVA from $34.00 to $40.00 and gave the stock an "overweight" rating in a report on Friday, February 14th. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $35.00 price target on shares of CEVA in a research note on Tuesday, February 11th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, CEVA currently has a consensus rating of "Moderate Buy" and a consensus price target of $36.60.

CEVA Stock Down 5.6 %

CEVA stock traded down $1.27 during trading hours on Tuesday, hitting $21.28. The stock had a trading volume of 447,534 shares, compared to its average volume of 201,422. The business's 50 day simple moving average is $31.25 and its 200-day simple moving average is $29.42. CEVA has a one year low of $16.02 and a one year high of $38.94. The stock has a market cap of $508.80 million, a price-to-earnings ratio of -57.51 and a beta of 1.46.

CEVA (NASDAQ:CEVA - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The semiconductor company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.11 by ($0.16). CEVA had a negative net margin of 8.22% and a negative return on equity of 2.48%. Research analysts anticipate that CEVA will post -0.12 EPS for the current fiscal year.

Insider Transactions at CEVA

In related news, Director Louis Silver sold 4,520 shares of the firm's stock in a transaction that occurred on Friday, March 14th. The stock was sold at an average price of $30.98, for a total transaction of $140,029.60. Following the completion of the sale, the director now owns 47,038 shares of the company's stock, valued at $1,457,237.24. This trade represents a 8.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 2.40% of the company's stock.

Hedge Funds Weigh In On CEVA

A number of institutional investors and hedge funds have recently modified their holdings of the business. Jane Street Group LLC lifted its position in shares of CEVA by 206.2% during the 3rd quarter. Jane Street Group LLC now owns 137,061 shares of the semiconductor company's stock valued at $3,310,000 after acquiring an additional 92,295 shares during the period. JPMorgan Chase & Co. boosted its position in shares of CEVA by 55.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 115,979 shares of the semiconductor company's stock worth $2,801,000 after purchasing an additional 41,573 shares in the last quarter. Barclays PLC grew its stake in shares of CEVA by 389.8% in the 3rd quarter. Barclays PLC now owns 41,900 shares of the semiconductor company's stock valued at $1,011,000 after buying an additional 33,346 shares during the period. Charles Schwab Investment Management Inc. increased its position in CEVA by 8.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 222,962 shares of the semiconductor company's stock valued at $5,385,000 after buying an additional 16,463 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in CEVA by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 559,109 shares of the semiconductor company's stock worth $13,505,000 after buying an additional 3,649 shares during the period. 85.37% of the stock is currently owned by institutional investors.

CEVA Company Profile

CEVA, Inc provides silicon and software IP solutions to semiconductor and original equipment manufacturer (OEM) companies worldwide. Its 5G mobile and infrastructure products include Ceva-XC vector digital signal processors (DSPs) for 5G handsets, 5G RAN, and general-purpose baseband processing; PentaG-RAN, an open ran platform for base station and radio; and PentaG2 - 5G NR modem platform for UE, as well as for non-handset 5G vertical markets, such as fixed wireless access, industry 4.0, robotics, and AR/VR devices.